What a fun week for sure, volatility was in the air as the FTX fallout made its impact.
The past week feels like its been a couple months and the mantra of "not your keys not your coins" or "not your keys not your crypto" has never held more true.
The Contagion Continues....
So when does it all end? Seems like most of the leofinance community thinks the vast majority of the contagion from FTX has planned out.
I'm sure there will be some more players that lock up withdrawals and possibly go defunct but they may be smaller players. In the end one never knows though.
Where do we go from here?
@Khaleelkazi and I spoke a bit about Bitcoin and where we think its going.
Both of us would be super surprised if we saw BTC below 10K, but more importantly we spoke about collateral.
If you were to lend your BTC for a loan, at what price would you have your margin call and/or liquidation price at?
Personally, I'd want my price a chunk below 10K, cus ya never know where another sell off could take price.
All things LeoVerse Update
Time for why we are here. What's new in leofinance world the past week.
The UI update continue to progress.....
This is an early peek at the reformat as threads becomes the default look.
The good thing about threads as the homepage is the ease of use and increased interaction, which bodes well for adoption and participation.
Elsewhere it is LPUD Today!!!
So if you have leo to power up go do it today and you will be entered in to win delegations for the month from other lions like me!
CUB BURN FEES
My opinion is that cub burn fees will see yet another huge jump in November as all the volatility from the FTX news last week had people making moves. I personally flipped a chunk from USDC into bHDB and then paired it against BUSD to add liquidity to that pool.
You can see the volume on bHBD txs here: https://pancakeswap.finance/info/pair/0x8b97f5b65532d2f89ff0e60e308540bb20e47933
Variable Staking
Variable staking on cub is coming, thus the cub kingdom will be retired at some point for this new feature.
You will be able to lock cub for higher yields or keep it liquid for lower years, the choice will be yours.
P.S. - I was peer pressured into powering up 5K LEO tokens for LPUD day!
Come join the fun ;-)